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| A. | Mobicom      Korea is currently a wholly owned subsidiary of Mobicom Corp, a publicly      traded company incorporated in theUSA. |
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| B. | Mobicom      Corp owns all of the issued and authorized share capital of Mobicom Korea,      which is comprised of 1,862,000 commonshares. |
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| C. | FAS      Alliances Inc. wishes to acquire an equity investment in Mobicom Korea,      and Mobicom Korea is willing to sell common shares to FAS Alliances, Inc.,      on the terms contained in thismemorandum. |
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| 1. | Mobicom      Korea hereby sells to FAS Alliances Inc., and FAS Alliances Inc. hereby      purchases from Mobicom Korea, 1,862,000 common shares in Mobicom Korea at      a price of W500 per share for an aggregate amount of W931,000,000, which      amount shall be payable to Mobicom Korea upon signature of this memorandum      of understanding. |
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| 2. | FAS      Alliances Inc. agrees to purchase a further 1,000,000 common shares in      Mobicom Korea at a purchase price of W5,000 per share, by no later than      March 15, 2009, subject to Mobicom Korea achieving revenue of      W6,000,000,000 and Net Income of not less than W1,200,000,000 for the      financial year ended December 31st,      2008. |
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| 3. | FAS      Alliances Inc. agrees to purchase a further 1,500,000 common shares in      Mobicom Korea at a purchase price of W10,000 per share, by no later than      March 15th, 2010, subject to Mobicom Korea achieving revenue of      W25,000,000,000 and Net income of not less than W5,000,000,000 for the      financial year ended December 31st,      2009. |
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| 4. | Mobicom      Korea agrees to use the proceeds of the sale for working capital purposes      and for merger and acquisition purposes.  Mobicom Korea will use      the proceeds for working capital inter alia, to develop and enhance its      operational capability and improve its Mobile Marketing Solutions and      Platforms.  Mobicom Korea also agrees to use good faith efforts      to identify and negotiate with merger and acquisition candidates with      complimentary products or services.  Mobicom Korea will use      commercially reasonable efforts to position itself as a leader in the      field of mobile marketing, data base management and interactive      marketing. |
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| 5. | FAS      Alliances Inc. agrees that it will use it resources and expertise to      assist Mobicom Korea, including without limitation identifying and      facilitating the introduction of potential customer prospects and merger      and acquisition candidates to MobicomKorea. |
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| 6. | FAS      Alliances Inc. agrees that it is a sophisticated investor and understands      the risk of an investment in a company like Mobicom Korea.  FAS      Alliances Inc. has conducted its own due diligence investigation of the      business and operations of Mobicom Korea.  In making its      investment decision, FAS Alliances Inc. is relying on its own business      judgment and is not relying on any representation or warranty pertaining      to Mobicom Korea or Mobicom Corp. except for those representations or      warranties included in thismemorandum. |
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| /s/ Ki-Young      Sohn                           |   | Date:  | November 7,      2008 |   |
|--------------------------------------------------|--------|--------|-----------------------|--------|
| Ki-Young      Sohn                               |   |   |                  |   |
| CEO      and President: FAS Alliances Inc        |   |   |                  |   |
|                                             |   |   |                  |   |
|                                             |   |   |                  |   |
| /s/ Kyung-Hoon      Ahn                          |   | Date:  | November 7,      2008 |   |
| Kyung-Hoon      Ahn                              |   |   |                  |   |
| CEO      and President: Mobicom  Korea |   |   |                  |   |

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